L1 getting expired Company filed for H1. Is it safe to leave US?

My L1 getting expired in August 2.

My Company Applied for H1 2014 it is Still in initial review. Is it okay to leave US as my L1 is ending? Some say it is not advised to leave US at change of status!

What shud i do?

Your COS from L-1 to H-1 will be abandoned but H-1 will continue to be processed and may get approved. You can then appear for H-1 stamping and return to US on H-1.